AUB Group Expands UK Presence with Momentum Broker Solutions Partnership
AUB Group has made significant strides in bolstering its footprint in the UK retail broking sector by announcing its intention to acquire a 40% stake in Momentum Broker Solutions, an authorised representative network. The Australian-listed intermediary group highlighted this move as a pivotal step towards leveraging its extensive experience in managing delegated authority and authorised representative networks across Australia and New Zealand.
The equity partnership agreement, contingent upon regulatory approval, underscores AUB’s strategy to integrate its proven capabilities into the UK market, aimed at enhancing Momentum’s service offerings for its broking partners and clients. This development follows AUB’s landmark $880 million acquisition of Tysers in 2022, a move that further solidified its presence in the Lloyd’s wholesale broking arena.
Mike Emmett, CEO and Managing Director of AUB, emphasized the strategic significance of the investment in Momentum, positioning it as foundational to AUB’s ambition of establishing a robust presence in the UK retail broking landscape. Momentum, boasting over 100 authorised representative partners responsible for placing premiums exceeding £90 million ($173 million), expressed enthusiasm about the partnership. Howard Pepper, Founder and Managing Director of Momentum, affirmed that the collaboration aligns with their strategic agenda, enabling them to maintain independence while benefiting from AUB’s expertise and support to foster further growth.
The partnership between AUB Group and Momentum Broker Solutions marks a decisive move towards expanding AUB’s capabilities in the UK market, underscoring its commitment to driving growth and innovation within the retail broking sector.
